The financial industry supports cross border transactions. A variety of financial institutions around the world services banking for offshore companies. Via the system of correspondent banking, even the smaller (offshore) banks in remote areas have access to the financial markets. Yet, there is risk involved for jurisdictions with a lack of sophistication and control to comply with international standards and financial regulation.
When choosing a banking facility for an Anguilla offshore company, a comparison of the size, location, and status of the financial institution should lead to the best solution. Risk management in the end should include a functioning deposit protection scheme that allows for repayment of the corporate account balance within a reasonable amount of time and against ordinary procedures. Banks and other financial institutions are considered the main gatekeepers of the financial system. As a consequence, strict compliance is imposed on prospects and customers. Offshore companies are, due to their administrative structure, often regarded as high risk. Therefore, it is not always easy to arrange for the appropriate banking relationship.
The financial industry is highly competitive. Within this playing field, banks have a traditional yet crucial role. Without access to the global value transfer system, international businesses find difficulties to trade. This means that global traders and virtual entrepreneurs need to find a way to gain access to a stable environment for banking. Those very professionals running an Anguilla offshore company have the same need. To establish the appropriate banking relationship, Equation CS and Legal Floris LLC assist the Anguilla company with compliance for account opening and maintenance of the banking relationship.